Recap Euro got its 1.32 test and zoomed thru it to Y+2 and 1.33. Closed the week above Y+2 and midpoint.
Outlook Thin rising wedge / up channel in place. It is not, however, a bullish pattern. If Euro failed to stay above Y+1 / B-0 and that turns into resistance, I am looking for a quick flush back down to B-3.
Lawrence's Comment
Recap
Whiplash action week. Ninja pushed lower to challenge the prior outside week low and failed to breach the support, that opened the door to a rally back to the ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Weekly yellow zone acted as resistance. A confirmed break on hourly, however, does not offer much profit potential on its first target area (red zone) right above 1.31. It ...
Lawrence's Comment
Recap
Resistance zone mentioned last week capped Euro upside and the breaking of Y-0 gave us Y-1 downside target as expected. Closed the week near Y-1 and week low.
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For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
EURUSD Jul 29 to Aug 02 Outlook
Lawrence’s Comment
Euro got its 1.32 test and zoomed thru it to Y+2 and 1.33. Closed the week above Y+2 and midpoint.
Outlook
Thin rising wedge / up channel in place. It is not, however, a bullish pattern. If Euro failed to stay above Y+1 / B-0 and that turns into resistance, I am looking for a quick flush back down to B-3.
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